Procmart, a B2B marketplace that helps India’s traditional businesses get access to equipments and other supply side solutions online, has announced a fresh $30Mn Series B fundraise. The round was led by Nandan Nilekani and Sanjeev Aggarwal’s VC fund, Fundamentum Partnership, and the Edelweiss Discovery Fund. The round also saw participation from South Korea-based Paramark Ventures. The Company’s existing investors include Sixth Sense Ventures and IndiaMART.
Speaking on the fundraise, CEO and Co-founder Anish Popli says, “With the rise of centralised procurement and a shift towards optimising non-core expenditures, the Indian MRO industry is on the brink of a significant transformation. Owing to our established credibility and robust infrastructure, we are well-positioned to capitalise on this market opportunity.”
Founded in 2015, Procmart has gained sizeable traction in the past 9 years or so. The Company has secured relationships with top-tier global MNCs and domestic companies across various product categories and industries such as FMCG, Auto, Pharma, Metal, Power, and others. ProcMart’s tech platform offers comprehensive and end-to end solutions for indirect sourcing requirement right from vendor consolidation, inventory management, digital procurement, expense tracking to logistics management.
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